Tuesday, September 23, 2008

TA Associates adds $95M to digital home security

By Mass High Tech Staff

TA Associates Inc. reports than it has completed a $94.7 million investment in Radialpoint, a Montreal-based provider of managed digital home security and care services to broadband service providers.

Proceeds from the investment will be used to support growth initiatives of the business, including investment in new products and services, firm officials said. Additional financial terms of the deal were not disclosed.

Boston-based TA Associates, founded in 1968, is a private equity and buyout firm that operates offices in Boston, London and Menlo Park, Calif. The firm operates a $12 billion capital management budget, with investments in more than 380 companies. TA Associates focuses on growth and buyouts in the technology, health care, business, consumer and financial services sectors.

TA Associates has invested in more than 60 software companies, including BMC Software Inc. (NYSE: BMC), Cadence Design Systems Inc. (Nasdaq: CDN) and McAfee Inc. (NYSE: MFE).

Radialpoint, founded in 1997, provides managed security and care solutions for BSPs via a private-label, software-as-a-service delivery platform. The company provides a range of desktop security services, including anti-virus, anti-spyware, firewall, privacy manager, fraud protection, parental controls, backup and restore, PC optimizer and pop-up blocker.

Radialpoint customers include broadband carriers such as Verizon Communications Inc. (NSE: VZ), Virgin Media in Europe, and Bell Canada and TELUS in Canada. Through its clients, Radialpoint’s services are currently available to more than 20 million broadband subscribers, officials said.